Iowa Home Prices Up Slightly
CLIVE, IOWA (March 12, 2014) – According to the Iowa Association of REALTORS® (IAR), home prices rose slightly and sales decreased in February.
IAR’s March 2014 Housing Trends Report shows that the average sale price of homes across Iowa was $141,489, up .5 percent from last March. The average sale price in March 2013 was $140,751.
According to IAR, sales decreased by 5.1 percent from last year. IAR reports 1,792 homes sold in March 2014, while 1,889 homes sold in March 2013.
Twenty-six of Iowa’s 44 local boards reported increases in average sale price, while 16 boards had increases in the number of sales.
The statewide average number of days on the market last month was 103 days, up 1 days or 1 percent from last March. Twenty-three boards showed a decrease in days on the market.
Kathy Miller, IAR 2014 President, says, “The extreme cold, snow, and wind that we’ve experienced this winter, has defiantly influenced buyers and sellers across the state. Sellers are inclined to wait for warmer weather to list, and buyers are reluctant to move in the inclement weather we’ve experienced.” Miller expresses optimism by saying, “However, spring is in the air; and we’re sure to see an increase in activity in March. Interest rates remain low, which should bring buyers to the table and help sellers get their properties sold.”
